Thursday, 18 August 2011

Carfinco Has 2011 Record Day Of Trading

Carfinco Income Fund
TSX: CFN.UN
Units outstanding: 24.61 million
Units fully diluted: 24.65 million
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On the heels of Jason Donville again mentioning Carfinco last night as one of his top picks on BNN's Market Call Tonight and an article published in The Globe and Mail today, Carfinco had a spectacular day of trading in an otherwise abysmal market.

Carfinco traded 211,878 units today, more than 11 times the 90 day average trading volume of 18,767 and highest number since December 2010. The Units closed at $6.38, up $0.16.

Mr. Donville's BNN mention of Carfinco can be seen here just past the 2 minute mark where he mentions that he expects Carfinco to increase its dividends.

As noted in the Globe, Franklin Cameron writes in The Globe's BNN Market Call column that Mr. Donville says: "Carfinco is growing at 30 per cent per annum and sports a nice 4.8-per-cent dividend yield. Given the growth rate of the company and the low payout ratio, we would expect the company to raise its dividend later this year."